Wave Analysis
During the previous trading day, the cable moved significantly to the lowerside and is still pretty much bearish both on lower time and on the higher time frames. We expect the current bearish price rally to be the continuation of the impulsive five wave cycle and could see the price break below 1.2780 towards 1.2220. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lower side and should first break below 1.2700, before a move even lower is seen.
Trade Recommendations:
Sell the cable with your take profit at 1.2700.
Origin: FreshForex
